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Last week, the Watco Cos. Inc. promoted Vice President of Finance and Strategic Planning Terry Towner to president and chief operating officer.

Prior to Watco, Towner served as president of First State Bank and Trust in Pittsburg, Kan., president of educational product developer Pitsco, and financial and strategic consultant for Grant Thornton. He also bought and sold Internet service provider Joplin.com.

"[Towner] has a solid background in all parts of our business, including financial, operations, development, marketing and accounting, which will provide an excellent foundation for him to lead the day-to-day operations of our company," said Watco Chief Executive Officer Rick Webb in a prepared statement.

Watco owns and operates nine short lines, and four repair facilities, and provides industrial switching and leasing services.